Emefiele Testifies on Compliance with Buhari's Naira Note Production Directive

In a legal proceeding in Abuja, witness Chinedu Emer testified that former CBN Governor Godwin Emefiele adhered to President Buhari's order to redesign and produce Naira notes locally. The EFCC accused Emefiele of illegal actions causing harm to the public.

Emefiele denied the charges and stated compliance with the directive to the Nigerian Security Printing and Minting Company (NSPMC). The prosecution revealed that while the NSPMC produced the redesigned notes locally, payments were made to the foreign company De La Rue for the redesign of the Naira notes.

The investigation also highlighted reasons for the redesign policy, including combating counterfeiting and addressing the shortage of banknotes in circulation. The court session featured cross-examination by Emefiele's counsel, Olalekan Ojo, and objections from the prosecution's counsel, Rotimi Oyedepo, regarding the submission of investigative reports.

The case was adjourned for further hearings.